Liquidity Fragmentation Arbitrage
We buy the same asset where it is cheaper and sell it where it is slightly more expensive across different platforms, capturing small price gaps that happen constantly.
At Zenith, Your Success Comes Before Ours
Investors receive their capital back and achieve a 20% return before Zenith participates. Combined with 100%+ gross returns every 9 months and more than 4.5 years without a negative month, the structure was designed to align interests while pursuing consistent outcomes.
One Fund. Multiple Sources of Return.
Zenith provides investors with exposure to diversified trading platforms designed to generate returns from market activity rather than market direction. Through a single investment, investors gain access to multiple systematic trading strategies operating across high-frequency trading and arbitrage, currency (FX) markets, and crypto spot trading.
- Structure
- Delaware Limited Partnership
- Target Fund Size
- $20 million+
- Minimum Commitment
- $250,000
- Management Fee
- 2% per annum
- GP Participation
- 1% minimum
- Preferred Return
- 20%
- Liquidity
- Quarterly, following a one-year lock-up period
Why Market Activity Can Be More Powerful Than Market Direction
Most traditional investments depend on markets moving higher. Zenith takes a different approach by allocating capital to diversified trading platforms designed to generate returns from the activity occurring within markets every day. Rather than relying on economic forecasts, interest rate predictions, or long-term market appreciation, these platforms seek to capitalize on recurring inefficiencies, pricing dislocations, and short-term opportunities across global markets.
The portfolio combines multiple systematic trading strategies spanning high-frequency trading and arbitrage, currency (FX) markets, and crypto spot trading. Each platform operates independently and pursues distinct sources of return, helping reduce reliance on any single strategy, market, or outcome. By diversifying across multiple return drivers, Zenith seeks to create a more consistent and resilient approach to return generation.
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Multiple Trading Platforms
Exposure is diversified across established platforms rather than concentrated in a single manager or strategy.
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Market Activity, Not Market Direction
Strategies seek to capitalize on trading activity and inefficiencies rather than relying on markets moving higher.
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Continuous Evaluation
Platforms are subject to ongoing review to ensure they continue meeting performance and operational standards.
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Aligned Economics
The participation structure was designed so investor outcomes come first.
Diversified Trading Platforms Across Multiple Opportunity Sets
Zenith allocates capital across multiple trading platforms designed to capture opportunities created by market activity, pricing inefficiencies, and temporary dislocations across global markets.
Funding & Basis Arbitrage
We capture the price gap between an asset's current price and its contract price by taking positions in both markets at the same time.
Cross-Venue Arbitrage
We take advantage of short-term moments when there are more buyers than sellers (or vice versa) by stepping in and trading into that imbalance.
Returns can be impressive. Consistency is far harder to achieve.
The projections below are built on a framework designed to pursue repeatable opportunities across global markets while maintaining disciplined risk management and capital allocation.
- Projected Gross IRR 62% Before fees and carried interest.
- Projected Net IRR 56% After all fund-level fees and participation.
- Projected Gross MOIC 5.80x Projected multiple on invested capital before fees.
- Projected Net MOIC 4.77x Projected multiple on invested capital after fees.
- Projected Net TVPI 6.88x Total value to paid-in capital based on the projected model.
- Projected Net DPI 5.80x Projected distributed capital returned to investors.
Quick question
Is Your Portfolio Prepared for Today's Markets?
Many investors are discovering that strategies that worked well for decades are not working the same way anymore. Stocks and bonds have become more volatile, diversification has become less reliable, and traditional portfolios may be carrying more risk than they appear.
Important information
For qualified investors only. The information on this page is provided for informational purposes and does not constitute an offer to sell, or a solicitation of an offer to buy, any security or investment product. Any offer or solicitation will be made solely by means of the fund's offering documents.
Historical performance figures referenced on this page, including the observation that Zenith has not experienced a negative month in more than 4.5 years and the reference to 100%+ gross returns every 9 months since inception, reflect gross-of-fee results of the underlying trading platforms. They are not net-of-fee returns experienced by an investor in the fund, do not reflect fund-level fees, expenses, carried interest, or the impact of cash drag, and are not indicative of future performance. Past performance is not a guarantee of future results, and investment in the fund involves risk, including the possible loss of principal.
Projected figures, including Gross IRR, Net IRR, Gross MOIC, Net MOIC, Net TVPI, and Net DPI, are illustrative model outputs built on stated assumptions and do not represent actual returns. Projections are inherently uncertain, no assurance can be given that the assumptions will prove accurate, and actual results may differ materially. Investors should review the fund's offering documents for a complete description of the projection methodology, assumptions, and limitations.
References to a 20% preferred return describe a hurdle structure: in periods when the fund generates sufficient profits, investors receive their capital and a 20% return before Zenith participates. This describes the order of distributions, not a guaranteed rate of return; if fund performance falls short of the hurdle, investors may not achieve a 20% return, and may not receive a return at all. Investors should review the fund's offering documents for a complete description of the economic terms, fee schedule, risk factors, and eligibility requirements.
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